MICHAEL A. DEGNAN, CPA, DIRECTOR

EXPERIENCE

Mr. Degnan brings over 20 years of financial and strategic experience managing all aspects of corporate finance for organizations undergoing significant change. He is a hands-on executive possessing the ability to manage complex functions while also being able to operate at a detailed level.

Mr. Degnan recently served as CFO for EnerTech Environmental, Inc., a waste-to-energy start-up that converted biosolid waste into a renewable fuel. During his long tenure with EnerTech, the company completed a project to build its first commercial scale plant in an all debt financing utilizing tax-exempt bonds under a project finance structure. He also managed several equity offerings bringing $47 million of capital into the company. Mr. Degnan was responsible for developing the finance function which involved hiring professional staff, implementing systems and developing the framework for financial reporting. When EnerTech’s plant experienced significant commissioning problems, he played a central role in negotiating a turnaround plan with the company’s creditors and closely managing cash throughout that period.

Prior to EnerTech, Mr. Degnan was Director of Finance and Accounting at SouthStar Energy Services, LLC, a $1 billion natural gas marketing company. He performed as the principal financial officer for this joint venture entity formed by three public companies. During his tenure on the management team at SouthStar, earnings grew from $15 million to $100 million over a five year period. He managed the company’s significant cash needs; obtaining necessary working capital through bank lines and vendor trade credit. Mr. Degnan implemented the provisions of Sarbanes-Oxley and played a significant role in the development of a natural gas hedging program aimed at protecting asset value, controlling cost, mitigating price risk and capturing upside market opportunities. Prior to his departure, he participated in the strategic planning that led to the company’s expansion into new geographic markets.

Education And Affiliations

Mr. Degnan attended Villanova University and graduated with a Bachelor of Science degree in Accounting. He has served on the Board of the Alpharetta YMCA since 2005. Mr. Degnan is married with three children and resides in the Atlanta area.

Areas Of Expertise

  1. Strategic renewal
  2. Organizational reform
  3. Mergers and acquisitions
  4. Synergistic opportunities
  5. Raising capital
  6. Debt restructuring and forgiveness

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